Banking Loop-hole
p. 51 · Read in the full issue
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From a Fiji Correspondent RECENT prosecutions in Fiji ex posed a loop-hole in the bank ing system, affecting depositors. But it’s fixed now!
The procedure in presenting a cheque to a Fiji bank is to first present it to the ledgerkeeper, who initials it. It is then presented to the paying teller.
Two men thought it would be
. easy , to alter u ‘ he amounts after a ledgerkeeper had passed the cheque.
They opened accounts for about £2O and later presented, and had ini tialled, a cheque for about £9. It was altered to £9 °- money was p However, Fiji is a small place, and the men were charged and gaoled on charges of forging and uttering. There have been other similar instances, What the banks do now, they have not told anyone—but it can’t be done again!